Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Netwealth achieved a record AUD 15.8 billion in FUA net flows in FY25, up 40% year-on-year.

  • Total FUA reached AUD 112.8 billion at 30 June 2025, marking a 28% increase over FY24.

  • Account growth of 13% in FY25, with 6,496 new accounts added in the June quarter alone.

Netwealth Group Limited (ASX:NWL), one of Australia’s leading wealth management and technology platforms, has released its business update for the June 2025 quarter, highlighting record Funds Under Administration (FUA) net flows and continued platform expansion, despite elevated market volatility.

The company reported record FUA net flows of AUD 15.8 billion for FY25, reflecting a 40% increase from FY24. These results were supported by inflows of AUD 3.8 billion in the June quarter, alongside positive market movements of AUD 4.9 billion, driving total FUA to AUD 112.8 billion at 30 June 2025. This marked an overall annual increase of AUD 24.8 billion, or 28%, for the financial year.

Custodial FUA led the platform’s growth, rising to AUD 111.9 billion, while non-custodial FUA also expanded to AUD 914 million, representing more than 100% growth year-on-year. Netwealth added 6,496 accounts in the quarter, increasing the total number of accounts by 4% quarter-on-quarter to 162,234, and by 13% over the full year.

Platform and Investment Product Growth

Netwealth also recorded significant increase in its Funds Under Management (FUM) segment, closing FY25 at AUD 27.0 billion, a 32% riseyear-on-year. This included net flows of AUD 1.1 billion during the June quarter, with Managed Accounts contributing AUD 1.1 billion — 96% of total FUM net flows.

The company continues to expand its Managed Account suite, now offering 799 models across 136 suites, including ESG, retirement, and alternative investment strategies. Netwealth also initiated trading in structured products and expanded its non-custodial menu, which now supports nearly 800 assets.

Enhancements and Outlook

During the quarter, Netwealth welcomed Michael Wachtel to the Board as an Independent Non-Executive Director and future Chair, bringing over 35 years of expertise in global business, M&A, and governance.

Netwealth maintained top rankings in both the 2025 Money Management Advice Tech Review Survey and the Investment Trends Adviser Technology Needs Report, leading multiple categories for adviser satisfaction and mobile client access.

The group highlighted a highly recurring and diversified revenue base, backed by EBITDA margins, operating cash flow alignment, and a debt-free balance sheet with significant cash reserves. With significant client growth, expanding adviser networks, and pipeline conversions, Netwealth remains confident in its FY26 net flows outlook.

Strategic Investment Continues

Looking ahead, Netwealth plans to continue investing in technology, cybersecurity, platform functionality, and client experience, while reducing its dependence on third-party systems.

Despite this update, Netwealth’s share price dipped slightly by 0.1% on Thursday morning, trading at AUD 35.07 per share on the ASX.